Business chiefs feel their firms are being held back by a lack of talent

William Turvill
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Manchester United manager Jose Mourinho has been disappointed with the skills of his workforce in recent weeks (Source: Getty)

More than half of businesses believe they are lacking the talent needed to meet growth targets, new research has found.

Some 55 per cent of 200 senior employees (vice president level and above) at UK and US firms with at least £750m of turnover said they felt their teams lacked the necessary skills.

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Respondents highlighted a lack of clear strategy for developing, attracting and retaining talent, according to North Highland, the management consultancy that carried out the research.

Other key issues included a lack of available talent in the marketplace, a lack of training for existing staff and employees wanting to have varied careers by moving around regularly.

Read more: New poll claims the skills shortage is crippling the construction industry

“What is clear from our research is that building the right talent mix and harmonising performance across teams remains a significant challenge for firms operating today,” said North Highland’s Craig Spence.

“Whilst on the face of it their business is successful now, there was major doubt as to whether they would be able to meet longer-term objectives due to a lack of talent needed to drive their company forward. This goes some way in explaining why just one in 10 of those polled felt their business was performing at its full potential.”